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Capital gain exemption

Tax queries 278 views 5 replies
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CA
89 Points Posted on 24 November 2016

Is compulsory acquisition of non-agricultural land exempted under capital gain?

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On 24 November 2016 at 11:17 Report
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CMA
13117 Points Posted on 24 November 2016

As I understand, it is taxable as per provisions of sec 45(5).

 

92 Reply
On 24 November 2016 at 12:31
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Student
30 Points Posted on 24 November 2016
not taxable.
reference: circular No. 36/2016 dated 25/10/2016
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On 24 November 2016 at 12:42
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CA
89 Points Posted on 24 November 2016
but new circular has been issued (36/2016) on 25th ocober, 2016 under the RFCTLARR Act 2013, showing that it is an exempted income.
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On 24 November 2016 at 12:43
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Student
30 Points Posted on 24 November 2016
by Government of India ministry of finance, Department of revenue central board of direct taxes
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On 24 November 2016 at 12:43
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MANAGER EXPORTS
36 Points Posted on 25 November 2016
IT is exempt under new act 36/2016 circular
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On 25 November 2016 at 20:37


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